TSNP .0001 New Canaan, CT -Tesoro Enterprises, Inc. ("TEI"), trading symbol TSNP, announced today the termination of its Reverse Merger ("RM") discussions with InPlays, Inc. Henry J. Boucher, TEI's CEO said that while the transaction with InPlays had merit, it did not provide the best option for the shareholders of TEI. Mr. Boucher cited the Company's revenue growth of its operating subsidiary, the upcoming release of its redesigned e-commerce web site and the potential to expand the retail operations as reasons to continue the strategy put forth by the company over the last two years. Furthermore, Mr. Boucher is happy to inform the shareholders that TEI is in talks with private investors to receive non-toxic financing for its retail consortium expansion. The financing could be used to push revenue into the million dollar range. Many have worried about a possible RM and Management wishes to set shareholders at ease by stating that there is no RM needed or planned in the foreseeable future. TEI is a fiscally conservative company and because operating capital has been limited, it has chosen not to issue press releases that do not address the underlying concerns for shareholders or properly express the direction of the company. Lastly management is discussing a possible share retirement program in order to reduce the current share structure to facilitate shareholder return and better reflect fair market value.
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